SEI Investments (NASDAQ:SEIC) EVP Michael Lane Sells 2,400 Shares of Company Stock

SEI Investments Company (NASDAQ:SEIC) EVP Michael Lane sold 2,400 shares of SEI Investments stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $102.78, for a total transaction of $246,672.00. Following the completion of the transaction, the executive vice president owned 39,581 shares of the company’s stock, valued at $4,068,135.18. This represents a 5.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

SEI Investments Trading Down 0.0%

Shares of NASDAQ:SEIC opened at $104.78 on Friday. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $112.15. The company’s 50 day moving average is $105.67 and its two-hundred day moving average is $93.22. The company has a market cap of $12.58 billion, a PE ratio of 18.48 and a beta of 0.97. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.22. The business had revenue of $641.62 million during the quarter, compared to analysts’ expectations of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 EPS. Equities analysts predict that SEI Investments Company will post 6.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SEIC. Keefe, Bruyette & Woods upped their price objective on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Raymond James Financial boosted their target price on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Piper Sandler increased their price target on shares of SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Friday, August 21st. Finally, Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, SEI Investments currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.60.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. lifted its position in SEI Investments by 14.7% in the second quarter. QRG Capital Management Inc. now owns 4,450 shares of the asset manager’s stock valued at $390,000 after purchasing an additional 570 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in SEI Investments by 3.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 20,242 shares of the asset manager’s stock worth $1,775,000 after purchasing an additional 626 shares during the period. Tidal Investments LLC raised its stake in shares of SEI Investments by 40.4% during the 2nd quarter. Tidal Investments LLC now owns 226,700 shares of the asset manager’s stock worth $19,884,000 after buying an additional 65,207 shares in the last quarter. Archford Capital Strategies LLC purchased a new position in shares of SEI Investments during the 2nd quarter worth approximately $1,068,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of SEI Investments by 17.1% in the 2nd quarter. NewEdge Advisors LLC now owns 5,730 shares of the asset manager’s stock valued at $503,000 after buying an additional 836 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

About SEI Investments

SEI Investments Company is a financial technology and investment solutions provider serving wealth managers, asset managers, institutional investors, banks and family offices. The company combines technology, outsourced operations and investment expertise to help clients manage portfolios, administer funds and support their broader financial businesses.

Its offerings include the SEI Wealth Platform, which provides technology and operating infrastructure for wealth management firms; investment processing and administration services; fund accounting and administration; and technology and operational support for investment managers.